Lexmark Reports Full Year and Fourth Quarter 2011 Results

LEXINGTON, Ky., Jan. 31, 2012 --
  • Revenue for the quarter at top end of guidance range
  • Record laser supplies revenue for year and quarter
  • Strong Perceptive Software revenue growth for year and quarter
  • Record gross profit margin percentage for year and quarter
  • Restructuring actions reflect company's increasing focus on business platforms

Lexmark International, Inc. (NYSE: LXK) today announced financial results for the full year and fourth quarter of 2011.

"2011 was a good year for Lexmark given the challenging global economic environment," said Paul Rooke, Lexmark chairman and chief executive officer. "Lexmark delivered record laser supplies revenue, record gross profit margin and a strong operating income margin.

"We continued solid execution of our strategic initiatives in 2011, focusing our significant imaging talent and resources squarely on business customers and aggressively growing our software business," added Rooke. "We remain confident in our ongoing ability to generate positive free cash flow as we have for each of the past 10 years, and going forward we plan to return more than 50 percent of free cash flow to our shareholders through dividends and share repurchases."

Full Year 2011 Results

GAAP revenue of $4.173 billion includes $5 million of acquisition-related adjustments. Non-GAAP revenue of $4.178 billion declined less than 1 percent compared with last year. The company delivered record laser supplies revenue for the year, which increased 9 percent above the record set last year.